Long Term Care Guild

Article: Long Term Care Annuities Get A Break

This link is on the latest Registered Rep site. I wanted to see how many of you offer or have sold LTC Annuities? What is your experience with them? Have any of you heard of the idea of DI/LTC products? What's your take on them?



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Comment by Sergio A. Mesa on November 23, 2009 at 9:14am
I am a registered rep and insurance agent and own my own agency. I truly have mixed feelings about this type of product. I absolutely love long term care, and equally love annuities. I have sold both over 17 years, unfortunately we all know that underwriting is the toughest part of the LTC sale, the teaser of the LTC annuity is the increased benefit for LTC. Yes the enderwriting is a bit more simplified , but there is still underwriting, then the situation arises of having someone dish out 30k to 50 k the first time you meet them to fund their LTC costs as opposed to building a relationship. I feel that none of this is going to matter because fewer and fewer companies are writing stand alone LTC. Allianz had a fantatsic policy which also paid outside the US with great pricing has stopped writing stand alone LTC as of NOV.13,2009. LTC annuities are a great way for the insurance companies to gather assets and squirrel away money for those future LTC claims.

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